The grain market in Ukraine experienced a number of changes during 2024, which led to fluctuations in prices and export volumes. Since the beginning of the year, grain prices have shown steady growth, reaching a peak in February. However, in March and the beginning of April, a gradual decrease in prices was observed, which experts attribute to seasonal factors, an increase in market supply and a change in the geopolitical situation.
In winter, grain exports from Ukraine were high, thanks to the full functioning of the «grain corridor». This led to record export volumes and a decrease in the accumulation of grain in Ukrainian ports.
With the beginning of spring, the amount of grain sent abroad from Ukraine remains high, but the rate of growth has slowed down. This is due to a number of factors, such as: a decrease in world grain prices, increased competition on the world market, delays in the export of grain due to infrastructure damage.
Since the beginning of this year, grain prices in Ukraine have been constantly rising. This was due to a number of factors, such as: a decrease in the supply of grain on the world market due to the war in Ukraine, an increase in the demand for grain from importing countries, and speculation on the world market.
In the spring, grain prices in Ukraine began to decrease. This is due to:
— Increasing the supply of grain on the world market.
-Decreasing the demand for grain from importing countries.
-Strengthening of the hryvnia against the US dollar.
Experts predict that grain prices in Ukraine will continue to remain unstable. The price is expected to fluctuate slightly over the next few months, but it is unlikely to return to early 2024 levels.
The price of grain will continue to be influenced by such factors as:
-War in Ukraine.
-Weather conditions.
-Volumes of grain production in Ukraine and other countries of the world.
-Demand for grain from importing countries.
It is important to note that the dynamics of grain prices may differ depending on the type of grain, its quality, and the region of Ukraine.
According to the State Statistics Service of Ukraine, in January 2024 the average price of wheat was UAH 8,500/t, in February – UAH 9,000/t, in March – UAH 8,200/t, and in April – UAH 8,000/t.
The most expensive wheat is food wheat of the 1st class.
The most affordable wheat is feed wheat of the 3rd class.
